Ex-Barclays CEO Diamond to Forgo Deferred Bonuses

Barclays Chairman Marcus Agius appearing before U.K. lawmakers announced that the former CEO Robert Diamond will forgo deferred bonuses valued up to $31 million.

This transcript has been automatically generated and may not be 100% accurate.

I ... the the ... stages ... to questions from House of Commons Treasury ... select committee over his role in the eyeball scandal ... that led to his resignation as well as ... the CEO Robert Diamond's ... is testament in ages and now it's that time and has agreed to forgo the screen to million on ... the fat bonus he was due to get from the bank ... it is my hope that my decision to step down and today's agreements on my remuneration ... will help close this chapter allow bosses to move bullet ... and pulse but ... Mr. Diamond reportedly said ... agents who stepped down as chairman over a week ago also told the select committee that the Bank of England ... and made a bold Diamond's position untenable ... for the bank's Governor matting tinkling in ages ... it into the banking advisory and the time and no longer have the backing ... of UK financial regulators ... there will be more on boxes libelous cattle on WS J live ... later in the day